The Euro has rallied significantly to kick off the trading session on Thursday but gave back enough of the gains to show ...

The Euro has rallied significantly to kick off the trading session on Thursday but gave back enough of the gains to show signs of resistance yet again at the 1.19 level. Because of this, I think that we are going to be waiting on the Non-Farm Payroll figures for the bigger move, but it is very likely that the bigger move will be to the upside and perhaps reaching towards the 1.20 level.

In the meantime, short-term pullbacks could be buying opportunities for those of you who are inclined to trade short-term charts. I believe that the 1.17 level is essentially acting as a bit of a “floor” in the market right now, so it may be worth paying attention to. A pullback to that area will represent quite a bit of value in people are most certainly going to be willing to take advantage of that.